Accord Mortgages has announced a significant reduction in rates across its Buy-to-Let New Business product range. The adjustments, set to take effect on Friday the 10th of November 2023, come in response to the volatile mortgage market conditions in the UK, with selected products seeing reductions of up to 0.30%.
Changes To Accord Mortgages Product Rates
Accord Mortgages, in an email communication to Oportfolio Mortgages this morning, outlined the key changes that will be seen in the upcoming shift. The adjustments are as follows:
- Selected 2-year products: Up to a 0.30% reduction
- Selected 3-year products: A reduction of 0.15%
- Selected 5-year products: Up to a 0.25% reduction
- Selected 2-year tracker rates: A reduction of 0.10%
These changes seem to be part of Accord Mortgages’ commitment to adapt to the dynamic landscape of the mortgage and property market and provide investors with competitive financing options. The adjustments aim to make it more attractive for landlords to explore the Buy-to-Let market, aligning with the current demands and challenges faced by property investors.
Act Quickly To Secure The Best Rates
To take advantage of these new reduced rates, the key is to act quickly and get in touch with a qualified mortgage broker. The existing product range will be withdrawn at 10 pm on Thursday the 9th of November, and the updated range will be available for application starting at 8 am on Friday the 10th. There is no indication of how long these rate reductions will be available, or if rates will continue to drop after this, so you should always speak to a mortgage broker before making any decisions on mortgage products. In the communication sent out to Oportfolio this morning, Accord acknowledges the importance of transparency and has assured that, whenever possible, they will provide at least 24 hours’ notice of upcoming rate changes or product withdrawals.
How To Get The Best Buy-To-Let Mortgage Rates
It’s crucial for prospective borrowers to note that to secure a product at the existing rates, a Full mortgage application must be submitted before the withdrawal deadline. Additionally, for Buy-to-Let applications, the selected product will impact the maximum loan offered. Accord Mortgages advises using their rental calculator with a mortgage brokers assistance to input the product details and obtain an accurate maximum lending amount.
In general, we at Oportfolio expect that the reduced rates will hopefully generate increased interest from investors seeking to enter or expand their presence in the Buy-to-Let market. Property investment remains an attractive option for many, and these rate reductions further enhance the financial feasibility of owning rental properties in a tough economic climate.
Speak To A Buy-To-Let Mortgage Expert
Accord Mortgages’ proactive approach to rate adjustments demonstrates their commitment to supporting property investors amid market fluctuations. The announced reductions in the Buy-to-Let New Business range provide an opportunity to make money from their rental investments. Something that has been tough to say the least in the last couple of years. If you are a buy-to-let landlord or an aspiring property investor, call or email our buy-to-let mortgage brokers at Oportfolio Mortgages today for a free initial mortgage consultation.